A Company Had the Following Information The Net Income for the Period Is_____

question 46

Multiple Choice

A company had the following information: $$\begin{array} { l r l r } \text { Cash } & \$ 6,000 & \text { Sales } & \$ 142,000 \\\text { Depreciation expense } & 4,000 & \text { Dividends paid } & 3,000 \\\text { Prepaidrent } & 1,400 & \text { Rent expense } & 3,600 \\\text { Cost of goods sold } & 69,000 & \text { Wage expense } & 41,000\end{array}$$ The net income for the period is_____.

• A)$22,400
• B)$23,800
• C)$24,400
• D)$26,800

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Definitions:

Biologically Alive

A state characterized by the capacity for growth, reproduction, functional activity, and continual change preceding death in living organisms.

Purpose

The reason for which something is done or created or for which something exists.

Iphigenia

A figure in Greek mythology, daughter of Agamemnon, whose story varies but is often associated with sacrifice for divine favor in war.

Agamemnon

A mythical king of Mycenae who was a central figure in the Trojan War, leading the Greek forces in the epic struggle documented in Homer's Iliad.